01.12.19
Corvus Team

About Corvus: Our Approach and Mission

Corvus Insurance - Making the World A Safer Place

Learn more about how Corvus is making the world or commercial insurance smarter, safer, and more productive.

 

 

Closed Captioning:

[Philip Edmundson - CEO & Founder, Corvus Insurance] Commercial insurance is a great business, but it's a little complicated. And some of the best data analytics and tools that are available in other industries simply don't get to commercial insurance brokers. Corvus uses data and other technology tools to help predict and prevent commercial insurance claims. All these bad things that happen in the world, many of them can be prevented, but you need information to help predict the likelihood and the circumstances in which a bad thing can happen.

[Mike Lloyd - Chief Product Officer, Corvus Insurance] At Corvus, we build smart commercial insurance products, and smart is a very important word in that it really starts by understanding the problems that brokers are trying to solve for their clients and then being really thoughtful and using the best-of-design principles and our amazing team to build smart commercial insurance.

[Mike Karbassi- Head of Cyber Underwriting, Corvus Insurance] Most traditional markets rely on long-form paper applications, asking questions that are not significant or material to the risk. Rather than rely on some of those archaic means of underwriting, we leverage novel sets of data to inform our underwriters to make better underwriting decisions and then also use that data to help provide real-time IT security recommendations to our policyholders.

[Amanda Mirabile - Territory Manager (West Coast), Corvus Insurance] I think everyone here just absolutely loves what they do. I mean, you can tell that everyone actually gets out of bed excited to come to work and excited to talk about insurance.

[Christopher Hedenberg - Lead Data Scientist, Corvus Insurance] We just embrace new technology. We are fully an InsurTech company. The data scientists work closely with the software engineers, and it enables us to do things faster and at a bigger scale.

[Michelle Darby - Software Engineer, Corvus Insurance] Everyone's involved in what we build and how we build it. We actually get involved at the problem level before we have a solution made up. We get to ask questions and really understand how the user does things now and apply what we know about what's possible.

[Philip Edmundson - CEO & Founder, Corvus Insurance] One of the interesting things about cybersecurity and cyber insurance is that it's such a dynamic field. Other types of commercial insurance, the risks don't change very much from year to year. The defenses don't change. But that's not what cyber insurance and cybersecurity are all about. All of us know this.

We know that the bad guys sit around trying to think of different ways to hack into organizations for their benefit, and that's different and changes and is dynamic. But the defenses are also dynamic. That means that we can't make decisions about underwriting insurance or providing advice based on old information. We can do that for something like property insurance for "this building" because not much has changed, but we need very current information in order to keep up with the changes in the threats and the defenses that we have in cybersecurity.

[Graham Brooks - Partner, 406 Ventures] We've realized that it's really not about keeping people out anymore because the hackers are always going to be one step ahead. You need to build the walls that you can, but more importantly, you need to be able to figure out when you've been breached. Figure out how to minimize it and protect against it as much as possible. And insurance is a key part of that.

[Christopher Hedenberg - Lead Data Scientist, Corvus Insurance] The amount of data that's generated daily is huge, especially when you think about cyber insurance. The amount of internet activity that happens every day is pretty large, and traditional insurance companies don't necessarily have the right people or skill sets to manage that amount of data. Technology like machine learning allows us to process and analyze data at a much larger scale than other insurance companies can.

[Gerritt Graham - Former Chief Commercial Officer, Corvus Insurance] For us in insurance, if you look at cyber risk today, it's in every industry. It affects every business and educating all those businesses, reaching all those businesses is a huge challenge. And at Corvus, using data and using technology to help our partner brokers distribute that product, we think can change the market.

[Philip Edmundson - CEO & Founder, Corvus Insurance] We all know that our lives are becoming increasingly digital and our businesses are too. And the opportunities that Corvus has identified and acted upon are really just the beginning.